Asian Market Report, 21st of March 2019

Asian stocks finished Thursday’s session mostly higher after the U.S. Federal Reserve announced it was keeping interest rates unchanged, and indicated that no more rate increase would be coming in 2019.

Furthermore, the president of the U.S. Donald Trump has warned that the United States may leave tariffs on Chinese goods for a substantial period to ensure that Beijing complies with any trade agreement, while later emphasizing he wanted them to reach a great trade deal.

The mainland Chinese markets were mixed at the end of today’s session. The Shanghai Composite finished the session higher, adding 0.35 percent or 10.81 points to close at 3101.45 supported by the significant improvement in most of the sectors, especially Technology and Consumer Cyclicals sectors.

Hong Kong’s main index Hang Seng finished today’s session in the red, falling 0.85 percent or 249 points to close at 29071, the Healthcare sector was the best performing sector, while Telecommunications Services and Technology were the worst performing sectors.

Elsewhere, the South Korean main index KOSPI surged in today’s session, adding 0.36 percent to close at 2184.88 supported by the improvement in Technology and Basic Materials sectors.

 

Japanese Stock Market:

Japanese stocks finished Thursday’s session higher where the main index surged by 0.2 percent or 42 points to settle at 21608.92 supported by the improvement in Industrials, Consumer Cyclicals, and Basic Materials sectors, While the Telecommunications services and Technology was the worst performing sector.

In corporate news, Rakuten Inc and Mitsui Mining and Smelting Co Ltd were the best performers of today’s trading session that rose by 4.12 percent and 4.08 percent respectively. On the other hand, Chiyoda Corp and Sony Corp were the worst performer of the session, declining by 3.7 percent and 3.38 percent respectively.

In the Forex news, the Japanese Yen fell against the Greenback to trade at 110.632 at 11:00 GMT.

 

Australian Stock Market:

Australia’s main index S&P/ASX200 closed today’s trading session in the green as it rose by 0.03 percent to settle at 6167.2 due to the improvement in multiple sectors especially Basic Materials, Energy, and Healthcare sectors, while Consumer Cyclicals sector was the worst performer of the session.

In corporate news, Nufarm Ltd and Speedcast International Ltd were the best performers in today’s trading session adding 6.15 percent and 5.31 percent respectively, While Eclipx Group Ltd was the worst performer of session that tumbled by 12.05 percent.

In the Forex market, the Aussie fell against the Greenback to trade at 0.71316 at 11:00 GMT.

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